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​Many Small Groups Don’t Have Investment Guidelines | Chronicle of Philanthropy
By Ben Gose in Chronicle of Philanthropy

Nearly 40 percent of small and midsize charities and nonprofit associations do not have guidelines to ensure that their investment reserve is diversified, and nearly 20 percent have no policy at all for governing how their reserve is managed, according to a new study of investment practices at 156 nonprofit organizations.

Almost half of the nonprofit groups—48 percent—had not formally specified a benchmark against which to evaluate investment results, the study found.

The study was commissioned by Raffa Wealth Management, an investment-advisory company that works primarily with nonprofit groups and foundations.

“We saw a lot of groups that aren’t doing some of the basic things that can help mitigate risk,” says Dennis Gogarty, the company’s president. Mr. Gogarty and Mark Murphy, a portfolio manager at Raffa, analyzed the data in the survey, which was conducted by Amplitude Research.

Read the article, Many Small Groups Don’t Have Investment Guidelines​, from Chronicle of Philanthropy.